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snydeq writes "Self-taught technologists are almost always better hires than those with a bachelor's degree in computer science and a huge student loan, writes Andrew Oliver. 'A recruiter recently asked me why employers are so picky. I explained that of the people who earned a computer science degree, most don't know any theory and can't code. Instead, they succeed at putting things on their resume that match keywords. Plus, companies don't consider it their responsibility to provide training or mentoring. In fairness, that's because the scarcity of talent has created a mercenary culture: "Now that my employer paid me to learn a new skill, let me check to see if there's an ad for it on Dice or Craigslist with a higher rate of pay." When searching for talent, I've stopped relying on computer science degrees as an indicator of anything except a general interest in the field. Most schools suck at teaching theory and aren't great at Java instruction, either. Granted, they're not much better with any other language, but most of them teach Java.'"Link to Original Source

Because there's no loyalty from employer to employee, employees no longer see the benefit in staying at one company and sacrificing potential wage gains when they know they can be laid off at a moment's notice. Why not play the same game as employers who will lay off for a gain in profit at the drop of a hat?